Platinum Set For Small Surplus In 2011 But Demand Is Increasing Says Pan American Metals Of Miami

(1888PressRelease) Demand from automotive and jewelry industries remains strong.

MIAMI, FL - Despite an ongoing crisis in Europe and persistent unemployment in the US, there is still a thriving global market for new cars. The emerging economies of India and China are among the largest consumers and Japan is returning to normal production levels in the wake of the devastating earthquake and tsunami in March.

Platinum is set to end the year with a surplus, but it will likely be a very small surplus. Physical demand for platinum also remains high, especially from the jewelry industry, and investment demand remains solid. In its 2011 interim review, Johnson Matthey forecasts platinum prices to average $1650 next year, and possibly reach $1800 an ounce. While production of platinum in South Africa has encountered problems and supplies from Russia are fairly stagnant, production from Zimbabwe and Canada is expected to rise. Additionally, recovery of platinum through recycling programs is increasing. However, demand is also predicted to rise and the jewelry industry is expected to find platinum more attractive if it continues to trade at a significantly lower price than gold.

"Platinum historically trades at a premium to gold," says Bill Hionas of Pan American Metals of Miami. "The current situation is anomalous and may not last too long. Platinum bullion is looking like an interesting investment in the medium to long term."

Pan American Metals of Miami trades in precious metals bullion; gold, silver, platinum and palladium. Both leveraged and fully funded positions are available.

About us:

Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.

Website: http://www.panamericanmetalsofmiami.com

Press Contact

Debbie Bailey

Executive Administrator

Pan American Metals of Miami, LLC

Source:

http://www.1888pressrelease.com/platinum-set-for-small-surplus-in-2011-but-demand-is-increas-pr-350539.html

by: Donald Hood

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